December 2016 Health Sector Economic Indicators Briefs

Economic Indicators |
December 13, 2016

National health spending in October 2016 grew at an annual rate of 5.5%, driven up by the hospital component (6.6% growth) and dampened by prescription drugs (3.5% growth). This puts 2016 on pace for 5.6% health spending growth, slightly below the official 5.8% rate just released for calendar year 2015. Health care prices in October 2016 grew 2.2% above the October 2015 level, with prescription drug prices leading the way at 7.0%, a 24 plus year-high. Health care added 28,400 jobs in November, less than the 12-month average of 34,000 jobs, and continuing a slow deceleration from the more than 40,000 new jobs per month added in mid-2015.